That is simply not true.
From the E*TRADE web site:
"No annual fees and no account minimums when you sign up for electronic statements and confirms."
"You can invest in the mutual funds... without paying loads, transaction fees, or commissions."
It is a complete myth that the only way to buy funds without paying extra fees is to hold an account directly with the fund family. While there is nothing wrong with having your account through Vanguard, T. Rowe Price, etc. there is also nothing wrong with E*TRADE, etc. where you can hold an account, buy from many different fund families (with no additional fees, etc. as mentioned above) with the option to also purchase ETFs, individual stocks, etc. etc. (if desired) all from the same account.
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"Never attribute to malice that which can be adequately explained by stupidity." - Anonymous
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